Business Interruption Insurance Cost

Remember, business insurance costs will vary because every business is unique and faces different risks. Costs can also vary depending on your location, your risk of a covered peril or loss and the type of coverage you need. If your business is located in an area with an increased risk of natural disasters, like hurricanes, you may have to pay more for your coverage than businesses located inland.

 

Costs will vary for business insurance by industry, because each industry faces their own unique risks. Keep in mind that business interruption coverage, or business income coverage, is already included in your Business Owner’s Policy (BOP) with The Hartford. A BOP also includes general liability insurance and commercial property insurance coverage too.

 

Here’s what our customers paid on average annually for a Business Owner’s Policy (BOP):

 

The best way to learn more about your business interruption insurance cost is to obtener una cotización from The Hartford today. Keep in mind that insurance costs will vary. Insurance companies use different factors to determine your cost for business insurance, including:

 

Your exposure to risk influences how much you’ll pay for your premium. For instance, construction workers often face more risk than retail workers.

 

Your geographical location can impact your insurance premium. For example, areas that experience more natural disasters often have an increased risk of property damage. This means certain zip codes and cities may see higher rates.

 

Your claims history can also impact your business insurance cost. If you’ve submitted a large number of claims in the past, you will likely pay a higher rate. The more severe these claims are, the higher your cost can be as well.

 

In many cases, larger businesses with higher sales or a large operating space can face more risks and might see higher premiums. Also, if your business has expanded its operations and increased in overall size, you’ll most likely need to get additional coverage too.

 

Without the protection of business insurance, your company would have to pay out of pocket for costly claims. If you’re ready to get business interruption insurance with your Business Owner’s Policy (BOP), be sure to consider these ways to save money:

 

Depending on your policy, you may have the option to pay your premium monthly. But if you pay the entire cost upfront each year, you could get a discount on your business insurance costs.

 

Your deductible is the amount you’ll pay out of pocket before your insurance company will cover a claim. By increasing your deductible, you may be able to lower your total insurance costs per month.

 

You can save money on business insurance by bundling essential coverages. For instance, a Business Owner’s Policy (BOP) combines business income insurance with commercial property insurance y general liability insurance into one convenient policy. There are additional coverages like professional liability insurance and data breach insurance that you can add to your BOP too.

We’re an insurance company with more than 200 years of experience protecting businesses like yours. We’re committed to making it easy for small business owners to better protect their hard-earned income. That’s why we offer the ability to customize your Business Owner’s Policy (BOP) with specific business income coverage endorsements for even more protection. To get started, obtener una cotización from The Hartford today.

 

 

Última actualización: 1 de julio de 2024

 

¹ Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.

 

Divulgaciones adicionales a continuación.